SpiceJet, Carlyle Aviation to Restructure $121M Lease Dues

SpiceJet Ltd. plans to restructure $121.18 million in lease arrears owed to lessors managed by Carlyle Aviation Management Ltd. through a securities issuance, the carrier said in an exchange filing.

• Carlyle may subscribe to equity shares worth up to $50 million at 65 rupees (76 cents) per share, according to the filing
• The subscription will be structured to ensure Carlyle’s stake remains below 10%
• The transaction will completely restructure the outstanding arrears due to lessors: SpiceJet
• Also, SpiceJet earnings

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